Rubrik

Last updated
Rubrik, Inc.
Company type Public
NYSE:  RBRK
ISIN US7811541090
Industry Computer storage
FoundedJanuary 2014;10 years ago (January 2014)
FoundersBipul Sinha, Arvind Jain, Soham Mazumdar, Arvind Nithrakashyap
Headquarters
Palo Alto, California, United States
Key people
Bipul Sinha (CEO) [1]
Products
RevenueIncrease2.svg US$628 million (2023) [1]
Decrease2.svg US$−354 million (2023) [1]
Owners
Number of employees
3,100 [1]  (2024)
Website rubrik.com

Rubrik, Inc. is a cloud data management and data security company based in Palo Alto, California, United States, founded in January 2014. [2] The company went public on 25th April 2024. [3]

Contents

History

The company was founded in January 2014 by Bipul Sinha, Arvind Jain, Soham Mazumdar, and Arvind Nithrakashyap. [4] [5] [6]

IVP led a US$180 million Series D funding round in May 2017, at a US$1.3 billion valuation, bringing the company to at least US$292 million raised to date. [7] [8]

In early 2018, Rubrik purchased Datos.io, another cloud data management company. [9]

In January 2019 the startup has raised $261 million, which helped it to reach $3.3 billion total valuation. The core investors were Bain Capital Ventures together with Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP. [10]

In December 2020, the company purchased the assets and intellectual property of Igneous, a Seattle-based company that had recently gone through a mass layoff. Until shortly before the acquisition, Igneous was led by co-founder Kiran Bhageshpur. [11]

In August 2023, it was announced Rubrik had acquired the Israel-headquartered cloud data security company, Laminar Security for an undisclosed sum. [12]

Products

The company calls itself a “Zero Trust Data Security.” [4] It provides data management services such as the backup and recovery, targeting enterprises that run hybrid cloud environments. Its software can be run on-premises and in the cloud to protect and manage data. [13]

Third-party sources have cited the rise of ransomware and other corporate threats as increasing the total market demand for off-site backup solutions. [14]

Controversies

In March 2018, Dell EMC sued two former employees that currently work for Rubrik, alleging that the employees downloaded Dell EMC trade secrets, solicited former Dell EMC customers, and provided unfair competitive advantages to Rubrik. [15] [16]

Personnel

Founder Bipul Sinha is CEO after stepping down from his role at Lightspeed. [17] He holds several patents for distributed storage technologies. [17] [18] He has publicly described inviting all to board meetings as an act of “radical transparency.” [19] [20]

Former Microsoft Chairman John W. Thompson is a board member. [21] Phoenix Suns basketball player Kevin Durant is a notable investor, citing Rubrik as his first technology investment made with the guidance of noted angel investor Ron Conway. [22] [23]

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References

  1. 1 2 3 4 5 Novet, Jordan (April 1, 2024). "Rubrik files to go public as tech companies see thawing of IPO market". CNBC.
  2. ↑ "Bloomberg: Rubrik Inc Latest News". Bloomberg. Retrieved 20 May 2019.
  3. ↑ Goswami, Jordan Novet,Rohan (2024-04-25). "Rubrik pops 20% in NYSE debut after pricing IPO above range". CNBC. Retrieved 2024-04-25.{{cite web}}: CS1 maint: multiple names: authors list (link)
  4. 1 2 "Stealthy upstart Rubrik: We'll make enterprise data 'beautiful'". The Register (UK). Retrieved 31 March 2018.
  5. ↑ "Meet Rubrik, yet another unicorn from Silicon Valley Indians". VCCircle. 12 June 2017.
  6. ↑ Kepes, Ben. "With An A-Grade Founding Team And A-Grade Investors, Rubrik Launches". Forbes. Retrieved 31 March 2018.
  7. ↑ Levy, Ari (28 April 2017). "Red-hot software start-up Rubrik has zoomed to a $1.3 billion valuation in two years". CNBC.
  8. ↑ "Ten Reasons Why IVP Invested in Rubrik – IVP". www.ivp.com. Retrieved 31 March 2018.
  9. ↑ "Rubrik buys Datos.io". www.bizjournals.com. Retrieved 31 March 2018.
  10. ↑ "Data management startup Rubrik gets $261M at a $3.1B valuation as it moves into security and compliance". TechCrunch. Retrieved 2019-01-15.
  11. ↑ "Cloud data giant Rubrik acquires tech and IP assets from Seattle startup Igneous". GeekWire. 17 December 2020.
  12. ↑ Lunden, Ingrid (2023-08-08). "Rubrik acquires Laminar to expand in data security across public clouds". TechCrunch. Retrieved 2023-08-10.
  13. ↑ "Backup service Rubrik now works natively in AWS and Azure – TechCrunch". techcrunch.com. Retrieved 2018-04-06.
  14. ↑ Warren, Justin. "Rubrik Releases Alta, Goes After $48 Billion TAM". Forbes. Retrieved 31 March 2018.
  15. ↑ "Dell EMC in bid to clap trade secrets injunction on staff now at Rubrik". The Register (UK). Retrieved 31 March 2018.
  16. ↑ "Dell EMC targets another startup with trade secrets claim". www.bizjournals.com. Retrieved 31 March 2018.
  17. 1 2 "Rubrik CEO: It's a passion project, not a hobby and not a 'job'". The Register (UK). Retrieved 31 March 2018.
  18. ↑ "Rubrik CEO Bipul Sinha includes Peter Thiel on his reading list". Financial Times. Retrieved 3 September 2021.
  19. ↑ "Why I invite all 900 of my employees to board meetings". Quartz at Work. Retrieved 31 March 2018.
  20. ↑ Simons, John (26 October 2017). "How One Silicon Valley CEO Practices 'Radical Transparency'". Wall Street Journal. Retrieved 31 March 2018.
  21. ↑ "Microsoft Chairman John Thompson Talks Cloud Competition, Diversity, and New Board Seat". Fortune. Retrieved 31 March 2018.
  22. ↑ "Kevin Durant makes first tech investment, in startup Rubrik". San Jose Mercury News. 29 August 2017. Retrieved 31 March 2018.
  23. ↑ "Warriors star Kevin Durant invests in Rubrik". www.bizjournals.com. Retrieved 31 March 2018.
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